Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b) and (c) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) If the Optionee dies while employed, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (c) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 of the Plan).
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (d) below, provide in writing that the Option will extend until a later date, but if Option is exercised after the dates specified in paragraphs (b), (c) and (d) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, after five(5) years and three (3) months of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) If the Optionee dies while employed, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (c) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 14 of the Plan).
Period of Option and Limitations on Right to Exercise. The Nonqualified Stock Option granted hereby will, to the extent not previously exercised, lapse at 5:00 p.m., Central Time, on the day immediately prior to the fifth anniversary of the date of grant (the "Expiration Date") unless sooner terminated in whole or in part as follows:
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraph (b) below, provide in writing that the Option will extend until a later date:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of service as a director for any reason.
Period of Option and Limitations on Right to Exercise. The option granted hereby will, to the extent not previously exercised, expire on the date ten (10) years after the date of grant of the option (the "Expiration Date"), unless sooner terminated in whole or in part as follows:
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraph below, provide in writing that the Option will extend until a later date:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of service as a director for any reason. If the Optionee or his beneficiary exercises an Option after termination of service as a director, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of service (including vesting by acceleration in accordance with Article 13 of the Plan).
Period of Option and Limitations on Right to Exercise. A Non-Qualified Stock Option shall not be exercisable more than fifteen (15) years after the date it is granted (the “Expiration Date”). An Incentive Stock Option shall not be exercisable more than ten (10) years after the date it is granted. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the Expiration Date as shown above.
(b) The Option shall lapse on the fifth (5th) day after the Optionee’s termination of service with Paragon Solutions, Inc. or its affiliates or subsidiaries for any reason, including death and disability.
Period of Option and Limitations on Right to Exercise. The Option shall expire at 5:00 p.m., Dallas Time, on February 6, 2011 ("Expiration Date"), unless sooner terminated after the date of the Optionee's termination of employment with the Company by reason of Disability or death as set forth herein.
Period of Option and Limitations on Right to Exercise. The Option, to the extent not previously exercised, and whether vested or unvested, will lapse and be forfeited upon the earliest to occur of the following:
(a) As of 4:00 p.m., Eastern Time, on the eighth anniversary of the Date of Grant (the “Expiration Date”);
(b) Except as specifically provided otherwise in this Section 3, if (i) the Optionee's employment is voluntarily terminated by the Optionee or is involuntarily terminated by the Company without Cause and (ii) the Option was exercisable immediately before the date of such Termination of Employment, 90 days after the effective date of such Termination of Employment;
(c) Except as specifically provided otherwise in this Section 3, if the Optionee's employment is voluntarily terminated by the Optionee and the Option was not exercisable immediately before the date of such voluntary Termination of Employment, on the effective date of such voluntary Termination of Employment;
(d) Except as specifically provided otherwise in this Section 3, if the Optionee's employment is involuntarily terminated by the Company for Cause, on the effective date of such involuntary Termination of Employment;
(e) Except as specifically provided otherwise in this Section 3, if the Optionee's employment is involuntarily terminated by the Company and the Option was not exercisable immediately before the date of such involuntary Termination of Employment, on the effective date of such involuntary Termination of Employment; provided that the Committee may extend the period for exercise of the Option for a period of 60 days if the following conditions are met: (i) there are no performance issues, (ii) the termination was not for Cause or Willful Misconduct (as defined below), and (iii) the Chair of the Committee, after consultation with management, finds that the circumstances of the Termination of Employment would constitute a hardship if there were no extension and recommends such extension, except that if the Optionee is an executive officer for purposes of Section 16 of the Securities Exchange Act of 1934, no recommendation shall be required and the decision to extend or not to extend the exercise period for such executive officer shall be made directly by the Committee. If the Optionee is not an executive officer, then prior to such Termination of Employment, the Chair shall review the Termination of Employment for hardship. If the Optionee is an executive officer or if the Optionee is not an executive officer and prior to su...
Period of Option and Limitations on Right to Exercise. The term of the Option will be for a period of ten years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the “Expiration Date”). To the extent not previously exercised, the Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Twelve months after the termination of Optionee’s employment by reason of Optionee’s death or Disability.
(b) Twelve months after the termination of Optionee’s employment by Optionee for Good Reason or by the Company other than for Cause or Disability.
(c) Twelve months after the termination of Optionee’s employment by the Company upon the normal expiration of the Employment Period (as defined in the Employment Agreement).
(d) Immediately upon the termination of Optionee’s employment by the Company for Cause or upon Optionee’s resignation other than for Good Reason. The Committee may, prior to the lapse of the Option under the circumstances described in subparagraphs (a), (b), (c) or (d) above, extend the time to exercise the Option as determined by the Committee in writing, but in no event may the Option be extended beyond the Expiration Date. If Optionee returns to employment with the Company during the designated post-termination exercise period, then Optionee shall be restored to the status Optionee held prior to such termination but no vesting credit will be earned for any period Optionee was not employed by the Company. If Optionee or his or her beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the Option shares that were otherwise vested on the date of Optionee’s termination of employment, including Option shares vested by acceleration under Section 3.
